The Top 10 Poorest Countries in Africa: With one of the lowest GDP Per Capita ($505) on the continent, Ethiopia making the 9th poorest country. September 26, 2016Posted by OromianEconomist in Uncategorized.
Tags: Africa, catatrphic famine, Ethiopia, Ethiopia and poverty, Famine and the “Ethiopia rising” meme, Multidimensional Poverty Index: Ethiopia has the second highest percentage of people who are MPI poor in the world: op Ten Poorest Countries in The World (All in #Africa) – MPI 2015 Ranking, The extents and dimensions of poverty in Ethiopia, The Top 10 Poorest Countries in Africa
The Federal Democratic Republic of Ethiopia, commonly known as Ethiopia, is the continent’s ninth poorest country. Its 100 million citizens make it the most populous landlocked nation in the world, and the second most populous on the continent after Nigeria.
Surprisingly, the economic situation in Ethiopia only worsened as recent as 2008, when the country’s inflation rose to double digits due to it’s a myriad of factors including its loose monetary policy, high food prices, and a huge civil service wage bill. Thus, the economic problems in the country are considered structural issues in governance, which are gradually being addressed by the government. The country’s best performing sector is agriculture.
Nevertheless, the country’s GDP remains to be one of the lowest on the continent, making it the 9th poorest nation.
The ten poorests countries are:
8. The Gambia
7. The Democratic Republic of Congo (DRC)
3. Central African Republic (CAR)
9. Ethiopia- GDP per capita: $505.00.
Shoppers and vendors make their way down a flooded street in Merkato, one of Africa’s largest market areas, in Addis Ababa, Ethiopia Wednesday, Aug. 29, 2012. (AP Photo/Rebecca Blackwell)